GE to Buy LED-Lighting Fixture Maker Albeo Technologies

GE Lighting will acquire Boulder, Colorado-based Albeo to
add its fixture portfolio and enhance its offerings to its
commercial customers, the East Cleveland, Ohio-based unit said
today in a statement. Financial terms weren’t disclosed.

Customers want GE-quality LED systems in “as many areas as
possible” because “the energy and maintenance savings
opportunities are huge,” said Jeff Bisberg, chief executive
officer of Albeo in an e-mailed response to questions.

Albeo will better serve customers “moving aggressively
toward an all-LED building envelope in new construction and
retrofits, including retail, commercial and industrial high-bay
applications,” GE Lighting Chief Executive Officer Maryrose Sylvester said in the statement.

The company raised about $12.8 million over the last five
years from investors Green Spark Ventures LLC, Braemer Energy
Ventures and Silicon Valley Bank, Bisberg said.

To contact the reporter on this story:
Ehren Goossens in New York at
egoossens1@bloomberg.net

To contact the editor responsible for this story:
Reed Landberg at
landberg@bloomberg.net